RSS
Market and Sector Type: 
Banking & Finance

TransGlobal gets £1 million cash injection

Article Date:  Nov 18 2008

Payment processor TransGlobal Payment Solutions has secured equity finance of £1 million from two venture capital firms.

Alliance Fund Managers and Enterprise Ventures, both based in the North of England, invested £500,000 each in the company, which plans to relocate its head office and sales base from London to the North West on completion of the deal.

Alliance invested from the Merseyside Special Investment Fund, which provides loans and equity packages to businesses based in, or prepared to relocate to Merseyside, while Enterprise Ventures’ contribution came from the Coalfields Enterprise Fund. Both funds are backed by the UK government.

TransGlobal will use the funding as development and working capital as it aims to expand its international and domestic payment services to its small and medium-sized clients.

Legal advisers involved in the transaction were Brabners Chaffe Street for the investors, and DWF for the company.

Comments 

There are currently no comments on this article

Sign up and get...

  • Regular GrowthBusiness newsletters
  • Post comments on articles
Sign up

Trying to raise business finance?

The Vistage Guide to Raising Finance in The New Economy. It tells you what your options are and how best to present your case for business finance. Simply visit www.neweconomyblog.co.uk/rf2 to request your free copy.

Hiscox Business Insurance 

Life’s full of uncertainties, but you never want to be in any doubt about your business insurance. Hiscox offers broad and inclusive business insurance available online. You can tailor a policy to suit your business needs from a broad range of covers. Find out more.

Selecting the right IT strategy in 2010

Owner managers and CEOs of fast-growing companies want IT-applications that accelerate competitive advantage and improve operational efficiency. This free whitepaper helps you plan and choose the right IT strategy for your business in 2010. Download ‘Selecting The Right Software Vendor’.

Research

  • Directors' Pay AIM 2009

    What should an AIM company pay its CEO or FD?
    What should a non-executive director or chairman expect to be paid?
    What benchmarks should AIM remuneration committee members be using when
    setting pay?

VCT Special Report 2009

This reports principle aim is to provide business owners seeking funding with information about the amount of funds that VCTs have to invest.

Cash Shells Special Report 2009

A comprehensive overview of cash shells on AIM and PLUS, companies that have become a significant feature on the market landscape.

More

Events Calendar

The Media Magnate Awards 2009

26th March, Vinopolis, London

More

More News: Fundraising Deals

Kromek raises Series D round

A Durham University spin-out with technology to help detect terrorist threats is now valued at £52 million following a fourth round of financing.

ControlCircle raises £6 million

A company which manages data centres and internet connections for websites including KPMG and Rightmove has raised £6 million in growth capital.

HG Tech Fund opens for investment

A new fund is being launched under the Enterprise Investment Scheme (EIS), planning to secure tax breaks for its investors by backing growing companies.

More Banking & Finance: Fundraising Deals

New €150 million fundraising by DFJ Esprit

European venture capital (VC) firm DFJ Esprit aims to raise €150 million (£130 million) for its third fund, DFJ Esprit III.

Eight-figure sum for Wonga.com

Short-term loan website Wonga has raised $22.25 million (£14 million) from venture capital (VC) investors less than a year after its full launch.

RLtec gets further investment

Low carbon venture investor Low Carbon Accelerator (LCA) has made a further equity investment of £300,000 in London-based clean technology company ResponsiveLoad – which trades as RLtec.

Key Capital Partners invests in Sabotage

Key Capital Partners (KCP) has backed the buy-in management buy-out of Worcester-based street fashion company Sabotage in a £3.6 million deal.

Mobile banking company set for Africa launch

Monitise, whose technology enables banking transactions to be carried out over mobile phones, has secured $1.5 million to expand into Africa.

Advertisement

Related articles

ControlCircle raises £6 million

A company which manages data centres and internet connections for websites including KPMG and Rightmove has raised £6 million in growth capital.

RainStor raises Series B round

Data management software company RainStor has raised US$7.5 million (£5 million) from institutional and strategic investors.

Carbon Trust joins Oxsensis investors

High temperature sensor developer Oxsensis has raised £3 million in a fundraising round including new investor Carbon Trust Investments.

AeroThermal gets funding for first plant

Waste treatment specialist AeroThermal has secured funding from investors including Bridges Ventures and Carbon Trust Investments.

Poll

What should Alistair Darling deliver in the Budget?




Have your vote on current issues

People who read this also read

  • Zenergy nets European money

    AIM-listed renewable energy specialist Zenergy Power has been awarded a grant of €475,000 (£399,000) by the European Comission.

  • Medical devices company secures £750,000

    Flexicare Medical, a Welsh developer and manufacturer of medical devices, has won £750,000 of debt to continue its international expansion.

  • Beringea launches VCT fundraising

    Private equity firm Beringea is seeking £20 million of investors’ money across its two VCT funds, ProVen VCT and ProVen Growth & Income VCT.

  • Fuel distribution business wins investment

    Rowilco Fuels, a Liverpool-based fuel distribution company, has received £600,000 from venture capital firm Alliance Fund Managers (AFM).

  • Successful bastards

    Self-centred, tough, ruthless and unpredictable: these are the characteristics of a successful person, according to a book published this week.

Latest VC Deals

Latest Deal Zone deals
Company Type Date
Jeyes VC Feb 2010
PrismTech VC Feb 2010
iVision UK VC Feb 2010
Synseal Extrusions VC Feb 2010
Mi-Pay VC Feb 2010
AQS VC Feb 2010
HCT Group VC Feb 2010
FDM Group VC Feb 2010

Active Advisers: Adviser

Active Advisers
Company Name Tel
Rawlinson & Hunter Bob Drennan 020 78420 2000
Galileo Fund Services Richard Bolton 01624 692 600
Buckingham Corporate Finance 0207 798 2840
BTG McInnes Corporate Finance +44 113 245 4965
SVS Securities 020 7638 5600
IAF Securities 020 7447 7400
City Equities Andrew Thacker 020-7489 5500
Apex Corporate Finance Limited Paul Warren 07970 727 531
The Quinn Partnership 020-7194 8140
     

White Papers

Better Roads

Serves the information needs of governments and construction contractors involved in Federal, State, County, City and Township highway, road and bridge construction, winter maintenance, roadside and vegetation management and other highway-related projects.

Defense Technology International

Is the one publication focusing on the critical role of defense technologies in programs, policies, programs and funding, providing readers with integrated intelligence and global perspective in Land, Sea, and Air.

FierceGovernmentIT

Is a free, three times a week email briefing for government employees and contractors on the latest government technology news.

More